The purchase of a timeshare condominium in Florida by an individual last year eventually involved many extra costs and restrictions that were not apparent at the time of sale.This problem is a classic example of _____

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The problem is a classic example of hidden characteristics, which refers to the situation where one party has information that is not available to the other party, causing information asymmetry and leading to unexpected outcomes. In this case, the seller did not disclose all the relevant information about the timeshare, resulting in the buyer suffering from extra costs and restrictions that were not apparent at the time of sale.

The Purchase of a Timeshare Condominium in Florida by an Individual